I have had a few wines - its best if you stop thinking of this as Arrow Minerals, its not. It is Boromo Gold in drag.
Read the docs and do your homework.
Boromo is the love child of private project generator Gengold Resource Capital. https://gengold.com.au
Gengold is private, but has some very good people behind it, including Peter Williams who founded Independence group, Papillion and half a dozen other major miners. They spent 5 years kicking around West Africa finding and working up these projects, and invested a few million dollars they found down the back of the sofa. Its all old WMC mafia with Tommy Mckeith thrown in to add diversity. They know how to work in Africa and have about 20 million ounces to prove it.
They wanted to IPO in 2018, but the market was shiite, the brokers were timid and so they didn't do it. And so instead they hit upon plan B of a reverse into Arrow.
It was very much plan B, not perfect, not their preferred option, and came with some smelly attached strings such as having to hang onto some baggage like Tabeart and Micheal, but sometimes you just have to suck it up to get the job done (Tabeart is also old WMC mafia, so that is the connection)
They said they would do certain things, and they did it, but are still saddled with having to wash out some old Arrow shareholders. They knew that and are happy to let it happen, as eventually they will be gone. In the meantime, they have largely addressed the geological risk issue by finding a deposit (as of yet unknown size).
Focus less on the past and more on the future as we now move into the grown up phases. We have a proven African and resource team who have generated billions in shareholder value, we have proven the gold endowment and we are close to washing out the disgruntled retail dross from the share register. The board will now be cleaned up, teh name will will probably be changed and serious money brought in
Traders are interested in the journey, investors are in for the destination. Know which one you are.
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